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Pohjola Bank PLC (31VN)

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Tuesday 18 March, 2008

Pohjola Bank PLC

Prior Notice of Merger

Pohjola Bank PLC
18 March 2008

Pohjola Bank plc                 COMPANY RELEASE

                                 18 March 2008, 4.30 pm Finnish time (GMT+2)



Pohjola Finance Ltd to Merge with Pohjola Bank by End of September 2008

The Boards of Directors of Pohjola Bank plc and Pohjola Finance Ltd have
approved a plan, whereby Pohjola Finance Ltd (formerly K-Finance Ltd) will merge
with its parent company by 30 September 2008. This merger is aimed at
simplifying the Group's corporate structure, streamlining operations and
reducing administrative costs. Since the transaction represents a subsidiary
merger, no merger consideration will be paid.



With the loan portfolio of around EUR 260 million at the end of 2007, Pohjola
Finance Ltd provides financing services mainly for corporate customers in
Finland and the Baltic countries. Pohjola Bank plc acquired the company's shares
from Kesko Corporation, based on an agreement taking effect in late January
2008.



The merger will have no effect on Pohjola Bank Group's earnings for 2008 or
Pohjola Bank plc's shareholders' equity.



The merger plan will be discussed at Pohjola Bank plc's Annual General Meeting
if shareholders with a shareholding of at least one-twentieth in Pohjola Bank
demand so. Pohjola Bank plc will publish a notification of this matter to its
shareholders at a later date after the registration of the merger plan.



Pohjola Bank plc


Markku Koponen
Senior Vice President


DISTRIBUTION
OMX Nordic Exchange Helsinki
London Stock Exchange
SWX Swiss Exchange
Major media
www. pohjola.fi



For more information, please contact

Mr Timo Ritakallio, Deputy CEO, tel. +358 (0)10 252 4322

Mr Markku Koponen, Senior Vice President (Corporate Communications), tel. +358
(0)10 252 2648


                      This information is provided by RNS
            The company news service from the London Stock Exchange